Alibaba Pictures invests in Hehe Pictures

By Ding Yining | November 28, 2016, Monday |

Online Edition

ALIBABA Pictures Group said today it will invest in Shanghai-headquartered Hehe Pictures Co Ltd and hold 30 percent stake to become its second largest stakeholder as the two film companies strengthen collaboration in the film production sector.

Alibaba Pictures will also designate two members to join Hehe Pictures' board of directors.

Chinese Internet companies are increasing their foothold in media and entertainment. Alibaba Pictures' partnership with Hehe Pictures goes back to May this year when the two companies both took part in the financing for Taopiaopiao, Alibaba Pictures' online movie ticketing platform.

The two companies will also carry out strategic collaboration in terms of film production and distribution.

Chief executive officer Zhang Qiang said the two parties seek to explore new modes in film production and marketing to push forward the development of the whole industry, according to an email statement.

Business

About Us
|
Terms of Use
|
RSS
|
Privacy Policy
|
Contact Us
|
Shanghai Call Center: 962288
|
Tip-off hotline: 52920043

沪ICP证：沪ICP备05050403号-1
|
互联网新闻信息服务许可证：31120180004
|
网络视听许可证：0909346
|
广播电视节目制作许可证：沪字第354号
|
增值电信业务经营许可证：沪B2-20120012

Alibaba Pictures invests in Hehe Pictures

Email this to your friend